The new Standard Chartered crypto-based Research team has predicted that Bitcoin could be worth $100,000 by the end of this year or early 2022.
The report said that Ether is “structurally” valued at $26,000–$35,000 — 10 times its current price — but BTC must reach $175,000 for that to occur.
Geoffrey Kendrick, Standard Chartered’s new crypto research unit head who is also the global head of its emerging market currency research, said in a note sent to clients on Tuesday,
As a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world.
One of the first BTC exchange providers, Mr Nick Spanos, noted that the Tuesday crash that occurred after El Salvador making Bitcoin a legal tender was a “false dip”. He said,
Big finance and the media say it’s because there was a bumpy rollout in El Salvador, and the president is breaking new ground, like a top CEO, rolling out innovation. He believes in it: he bought the dip, as everyone should be.
He was also supportive of the idea of the standard chartered team’s report of Bitcoin reaching the valuation of $100,000 valuation. “It would be an excellent time for the fire sale due to the dip, which will be the one primary reason for Bitcoin’s increased valuation in the future.”